Why Invest In Cyprus Property?

Cyprus real estate represents outstanding potential to foreign purchasers wishing to invest in a sought after overseas location. Find out here why the Cyprus property market is still so strong.

Main Reasons Why Cyprus is a Desirable Investment Location:

  • The property market throughout Cyprus is one of the fastest growing in the European Union and prices in some areas are increasing by an annual average of 20%.
  • Property prices are still lower than in many other European countries, particularly in the north.
  • Cyprus has seen a sharp increase in the number of golf properties available, while golf property prices fetch up to 40% more.
  • A comparatively low tax rate, including a Double Tax Treaty with southern Cyprus and the UK are attractions for investors.
  • Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) stand at only 10%.
  • You can easily receive your UK pension, tax free in Cyprus.
  • Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.
  • 340 days of sunshine a year make it a comfortable and enjoyable place to live.
  • Cyprus enjoys a high standard of living, with good facilities, including top- class golf courses.
  • A low cost of living often makes for an improved quality of life.
  • There is a comparatively low crime rate in Cyprus and friendly people make it a desirable place to visit or live.
  • Excellent medical facilities, education and offshore business advantages make it all the more attractive.
  • Tourism is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country´s GDP by 2014. This is good news to property investors looking for a ready market.
  • Cyprus has a British-based legal system, where English speaking lawyers abound.
  • A British-based banking system in southern Cyprus, makes choosing mortgages and managing your money similar to “back home”.
  • Entry into the Eurozone in January 2008 is a further vote of confidence.
  • Northern Cyprus is set to join the EU when Turkey meets the EU requirements, including a settlement with Greek Southern Cyprus.
  • A very efficient land registry with straightforward and well administered procedures makes property purchase a safe option.
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